Economic activity hits 32-month high in June, says Icra; retains Q1 growth forecast at 6.4-6.6%
Icra reported that India's composite index of high-frequency indicators grew 12% year-on-year in June, marking the strongest expansion in 32 months. The ratings agency maintained its GDP growth forecast for Q1FY27 at 6.4-6.6%, despite the recent uptick in economic activity, citing potential risks from rising input costs and geopolitical tensions. Key contributors to June's growth included significant increases in automobile production and vehicle registrations, although some indicators, like domestic airline traffic, showed declines.